Our Plus500 review found the CFD Provider’s popularity is due to:
- Guaranteed stops and other risk management tools
- No commissions (spreads only fees)
- Leading Forex Platform across all devices
- The ability to also trade shares, CFDs, Commodities and more
Risk Management Tools Offered By Plus500
Plus500 is one of the leaders in it’s field when it comes to tools to help forex traders manage risk including guaranteed stops which are only offered by a handful of brokers.
A guaranteed stop loss order means you can determine the most you are willing to lose on a trade any no matter how turbulent the markets are, you can not lose more than that amount. A standard stop loss order on the other hand in turbulent markets can lead your losses exceeding the limits set.
There are other risk management tools including:
1) Account leverage tailored for you
Forex traders can choose the leverage level to suit their experience levels and risk appetite.
A trader’s leverage can be determined based on ‘equity’ and the ‘total position value’. Depositing or withdrawing funds impacts equity while total position combines this with the leverage chosen. The account snapshot diagram within the forex broker platform shows these two metrics when forex trading.
2) ‘Close at Profit’ and ‘Close at Loss’ Tools
Unlike a guaranteed stop loss which has a premium price, these two tools are standard and have no additional charges.
Using these tools lets you exit the market if it moves in the wrong direction or take profits once your profit target is achieved. This means that you can calculate what price will determine the profit/loss you want to achieve making currency trading simple.
3) Trailing Stops
Similar to ‘close at profit’ that allow you to exit the market when your profit target is met, a trailing stop will move with your profit.
If a market moves in the wrong direction, this mechanism will close out your position at a new level locking in profits while limiting downside risk. The key benefit is you don’t have to closely watch the market when your trading in the market.
4) Price Alerts
This feature allows you to be notified when your buy or sell predetermined price is reached and it’s time to act on the market.
These alerts don’t action the trade so you can still determine if you want to close your position or allow it to remain open for a longer period. A price alert screen, sound and bell icon are features to ensure you don’t miss when this price occurs.
Trading Software: Plus500
It offers a comprehensive and easy to use platform for Forex trading. One can trade in multiple markets from a single screen and offers real time quotes on all assets.
The software experience is clean and all tabs are clearly displayed showing clear information on trading positions both current and past. The charts are clearly displayed and it do not show multiple graphs, bombarding the trader. The trading platform is available in 3 different versions: the first is a downloadable version that can be easily copied onto laptop or PC, the second one is web based and requires net connectivity and the final version of the platform is for mobile and tablet. The trading interface is not complicated and customers can start trading without needing any further support.
Deposits and Withdrawals: Plus500
Our Plus500 review found that funding is fairly easy as it offers a myriad of payment methods for deposits and withdrawals. One can transmit money through Visa or MasterCard debit/credit cards (there may be further limitations depending on your region), PayPal, Skrill and direct bank to bank funds transfer. Deposits are acknowledged the same day itself while the time frame for processing a withdrawal request is normally 1-3 business days, in order to allow us to complete various security checks before initiating payment. The time frame for receipt of the payment, is dependent upon the payment method and processing time of the third party remitter.
Plus500 Review: A Brief history
The company was founded in late 2008 and is an Australian CFD Provider with around 6 years of unblemished service. It is regarded as one of the largest CFDs Providers operating in Australia and Europe with thousands of satisfied Australian clients and customers. Not only did our Plus500 review find they offer other services like shares, Exchange Traded Funds and CFDs. It has got more than 1 million satisfied customers worldwide who can vouch for its excellent service and trading benefits. Their trading services are available in 34 different languages including English which means that it can adhere to the needs of all kinds of people in a number of different countries across the globe.
There are probably hundreds of brokers operating in the Forex industry in Australia all of whom promise traders fantastic service. Anyone new to this format of currency trading will quickly work out that it is an incredibly difficult task selecting the best broker for their trading needs. Traders always need to be very careful to ensure they DO NOT get scammed or become the latest victim of yet another Forex scam.
It is no surprise forex traders are incredibly nervous when finalising their broker decisions and with so many forex trading companies available and the well known risks associated with forex trading who can blame them? A good way of differentiating forex companies is by their sign up bonus offers. Of course there are other factors that need careful consideration such as trading securely and whether a company is sufficiently regulated.
Plus500 is a very reliable CFD Provider and offers the best exposure to currency markets with the best payouts and lowest spreads. The Plus500 platform is one of the most user-friendly platforms out there, yet, it includes advanced features attractive to experienced traders. It is very graphical and intuitive and offers a fantastic trading experience. Plus-500 customer service is good and staff members are very helpful and friendly. Plus500 UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909) which shows that the broker is safe and reliable.